Form 4: Ciena Corp SVP Joseph Cumello Reports Stock Disposals to Cover Tax Obligations
SEC Form 4
Joseph Cumello, SVP and General Manager of Blue Planet at Ciena Corp, reported the disposal of common stock to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On September 20, 2024, Joseph Cumello, SVP, General Manager of Blue Planet at Ciena Corp, disposed of shares of common stock to cover tax obligations.
- The disposals were related to restricted stock unit (RSU) award agreements.
- The prices for the disposals were $58.73 per share.
- The total number of shares disposed of was 1,332.
- Following the transactions, Cumello beneficially owns 42,064 shares of Ciena Corp common stock, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to routine stock disposals for tax purposes and doesn't indicate a change in the executive's overall confidence in the company.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Disposals to cover tax obligations are common and don't necessarily reflect a negative outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to one of the disposals. |
| 10/01/2020 | Date of restricted stock unit (RSU) award agreement related to one of the disposals. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to one of the disposals. |
| 02/01/2023 | Date of restricted stock unit (RSU) award agreement related to one of the disposals. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to one of the disposals. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to one of the disposals. |
| 09/20/2024 | Date of the stock disposal transactions. |
| 09/23/2024 | Date of signature on the Form 4. |
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